Kennedy Wilson Backs $104M Student Housing Project
Deal News | Apr 18, 2025 | Kennedy-Wilson Holdings Inc
Kennedy-Wilson Holdings Inc. has provided significant financial backing for a new student housing project in Ithaca, New York. The joint venture involving PeakMade Real Estate, Blue Vista, and W5 Group secured $104 million in construction financing to develop Ithaca Gateway, a 518-bed student housing community. The project, positioned conveniently near Cornell University, plans to offer modern amenities and is scheduled for completion by mid-2027. This investment aligns with Blue Vista's broader strategy, which has seen it develop and acquire thousands of student housing beds across the U.S.
Sectors
- Real Estate
- Finance
Geography
- United States – The development project is located in Ithaca, New York, USA, and involves multiple companies operating within the United States.
- Ithaca, New York – The specific location of the student housing project is Ithaca, New York, emphasizing the geographical focus of the article.
Industry
- Real Estate – The article discusses a real estate development project, specifically student housing, which falls under the real estate sector.
- Finance – The financial aspect of funding the real estate development project is undertaken by Kennedy-Wilson Holdings Inc., highlighting the involvement of financial services.
Financials
- 104 million – The amount of financing provided by Kennedy-Wilson Holdings Inc. for the construction of the Ithaca Gateway student housing project.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Kennedy-Wilson Holdings Inc. | Financier | Company | Kennedy-Wilson Holdings Inc. provided the $104 million construction finance for the Ithaca Gateway project. |
| PeakMade Real Estate | Developer | Company | Part of the joint venture developing Ithaca Gateway, a student housing community. |
| Blue Vista | Developer | Company | A joint venture partner in the Ithaca Gateway project, with a history of developing student housing. |
| W5 Group | Developer | Company | Part of the joint venture working on the Ithaca Gateway project. |
| Purcell Construction | General Contractor | Company | The general contractor assigned to execute the construction of the Ithaca Gateway project. |